BlackRock Inc. Purchases New Position in Urban Outfitters, Inc. $URBN

Key Points

• BlackRock acquired 8.68 million Urban Outfitters shares worth approximately $615.2 million, giving it a 10.14% stake in the retailer. Institutional investors collectively own 77.61% of the company.
• Urban Outfitters shares opened at $74.24, with a market capitalization of $6.36 billion and a 52-week trading range of $59.53 to $84.35.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $89.73; JPMorgan recently raised its target to $110.

BlackRock Inc. purchased a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,681,345 shares of the apparel retailer's stock, valued at approximately $615,160,000. BlackRock Inc. owned approximately 10.14% of Urban Outfitters as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. acquired a new position in Urban Outfitters in the 4th quarter valued at approximately $27,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Urban Outfitters by 815.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer's stock worth $28,000 after purchasing an additional 326 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Urban Outfitters in the fourth quarter worth $33,000. Transamerica Financial Advisors LLC increased its stake in shares of Urban Outfitters by 566.7% in the fourth quarter. Transamerica Financial Advisors LLC now owns 440 shares of the apparel retailer's stock valued at $33,000 after buying an additional 374 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Urban Outfitters by 125.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer's stock worth $36,000 after buying an additional 274 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company's stock.

Urban Outfitters Price Performance

Shares of URBN stock opened at $74.24 on Monday. The business's fifty day moving average is $73.72 and its 200 day moving average is $70.61. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.37 and a beta of 1.23. Urban Outfitters, Inc. has a twelve month low of $59.53 and a twelve month high of $84.35.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Urban Outfitters from $97.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, August 18th. Weiss Ratings lowered Urban Outfitters from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, August 7th. Jefferies Financial Group boosted their price objective on shares of Urban Outfitters from $72.00 to $79.00 and gave the company a "hold" rating in a research note on Wednesday, August 12th. Barclays reduced their target price on Urban Outfitters from $102.00 to $100.00 and set an "overweight" rating for the company in a research report on Friday, May 22nd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $89.00 price target on shares of Urban Outfitters in a research note on Monday, July 6th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $89.73.

Urban Outfitters Company Profile

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city's historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.

Want to see what other hedge funds are holding URBN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Urban Outfitters, Inc. (NASDAQ:URBN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source